Dangote Refinery has announced an increase in its Premium Motor Spirit (PMS) ex-depot, or gantry, price from ₦1,175 to ₦1,245 per litre, effective 12:00 a.m. on March 21, 2026. The ₦70 per litre adjustment will apply to all outstanding and unloaded volumes. Concurrently, the refinery’s coastal supply price for PMS has been raised from ₦1,512,648 to ₦1,606,518 per metric tonne.
In a communication to its customers, the refinery attributed the price revision to persisting global geopolitical tensions, which continue to disrupt international oil markets and influence downstream product costs. The company clarified that customers with valid Bank Guarantees may continue loading under existing arrangements, but must settle the price differential. These additional payments must be completed by March 23, 2026.
This marks the second significant price adjustment from the Lekki-based facility, which commenced commercial operations in 2023 as a cornerstone of Nigeria’s strategy to achieve fuel self-sufficiency. With a capacity of 650,000 barrels per day, Dangote Refinery is Africa’s largest single-train refinery and a major supplier to the Nigerian downstream sector. Its pricing decisions directly influence national fuel costs, as the refinery supplies independent marketers and major oil marketing companies.
The latest hike reflects sustained volatility in global crude oil benchmarks and freight costs, exacerbated by ongoing geopolitical uncertainties. For Nigerian consumers, the adjustment may translate to higher pump prices, depending on how marketers pass on the increased landing costs. The industry now observes whether the change triggers a ripple effect across the competitive retail market.
The refinery’s notice underscores the immediate financial implications for its customers, who must reconcile contracts at the new rates within a narrow window. Market analysts note that Dangote’s pricing mechanism, linked to international benchmarks and foreign exchange, remains sensitive to external shocks. The development highlights the delicate balance between securing domestic supply and managing inflationary pressures in Africa’s largest economy. Stakeholders will closely monitor subsequent pricing cycles for indications of stabilization or further adjustments.
